Shiba Inu price has spent ten days consolidating inside a triangle pattern

 Shibu Inu price continues to contract and cause frustration for bulls and bears. However, Shibu Inu is trading near the apex of the triangle pattern it is currently inside. Therefore, a breakout lower is likely to occur very soon.

Shibu Inu is presently trading inside the very end of a triangle pattern. Typically, breakouts from any pennant or triangle pattern occur within the last 1/3rd of the triangle. However, Shibu Inu is trading near the pattern's apex and has one more day before it will slide out of the pattern due to time and not price.

The final condition required for a -20% drop for Dogecoin killer Shibu Inu price is likely the Chikou Span in the Ichimoku Kinko Hyo system. The Chikou Span is currently inside the Cloud and trading inside the body of a candlestick. For a clear bearish breakout to occur, the Chikou Span would need to close below the candlesticks and the Cloud. The price level for this change would be around the $0.0000069 level.

However, given the constricted nature of Shibu Inu's price, it will not take much for buyers to take control of the market. A close of Shibu Inu price at or above $0.000008 would create sufficient conditions for an Ideal Ichimoku Bullish Breakout pattern to occur. At $0.000008, Shibu Inu's price would be above the Cloud, Tenkan-Sen, and Kijun-Sen, while the Chikou Span would be above the candlesticks and the Cloud. Substantial increases in Shibu Inu value would be likely if the Ideal Ichimoku Breakout pattern were to develop.

Cardano reveals major partnerships

Solana vs Ethereum?